On Thursday, the yellow metal’s price declined by 100 pips or 0.55%. A breakout occurred through the lower boundary of an ascending channel pattern during Thursday’s trading session.
Technical indicators suggest that the commodity is likely to continue to edge lower. Bearish traders could target the 200– hour simple moving average at 1763.9 within this session.
On the other hand, the XAU/USD exchange rate could bounce from a support line at 1775.0 before the end of Friday’s trading session.
